202 Granada Way Closes at 123% of List as September Logs 34 Sales and a $2,165,000 Median

The period at a glance

September 2026 produced 34 closings against 40 in the same month a year earlier—a 15 percent drop in transaction count. The overall median price fell to $2,165,000 from $2,465,000 twelve months ago, and median price per square foot moved from $1,232 to $1,095. Those headline numbers, however, carry significant compositional weight: a heavier mix of condominium and outlying hillside properties this month pulls the whole-market figures down in ways the segment tables clarify. Days on market are not recorded for any of the 34 closings, so no speed analysis is possible. List prices are available for 27 of the 34 transactions; seven carry no list price and are excluded from any over-asking calculation.

The more instructive tension sits between price bands. The $2M–$3M band was the month's busiest, accounting for 11 of 34 closings, while the $1M–$1.5M band drew only three. The single $5M-and-up sale—5770 Harwood Place at $6,400,000—closed at 95.5 percent of its $6,698,888 ask after sitting as one of the most closely watched listings in the hills. Meanwhile, 202 Granada Way in the $3M–$5M band closed at 122.9 percent of list, the largest premium of the month. Those two transactions bracket September's range of outcomes better than any median does.

The sales

The table below shows all 34 closings recorded for September 2026.

Four transactions anchor the month. 202 Granada Way closed at $4,300,000 against a $3,500,000 list price—a 22.9 percent premium, the largest of the period and the only closing to clear the $800,000-over-ask mark. The 1982-built home sits on a 17,100-square-foot lot and clocked $1,405 per square foot on 3,060 finished feet, a figure that resets expectations for that pocket. 242 Howes Drive, a newly constructed 2,003-square-foot home, closed at $3,375,000 against a $2,988,800 ask—112.9 percent—and produced the month's highest price per square foot among homes with a list price on record at $1,685. 5770 Harwood Place is the month's highest-dollar transaction at $6,400,000 but tells a different story: 8,731 square feet on a 4.4-acre estate in the hills, priced at $6,698,888, it closed at 95.5 percent of ask and registered the second-lowest price per square foot among single-family closings at $733. Acreage and sheer size compress that figure. At the other end of the range, 16420 Soda Springs Road—3,270 square feet on 5.2 acres—closed at $1,370,000, or 91.3 percent of its $1,500,000 list price, the steepest discount among transactions with a list price recorded.

Where the market split

By segment

The townhouse segment produced only two closings—344 Pine Wood Lane at $1,525,000 and 546 Pine Wood Lane at $1,140,000—so no median is offered; the range of $385,000 between those two Pine Wood Lane transactions is the relevant fact. Among the four condominiums, none closed above list price; the segment median of $595,000 (four sales) sits $1,880,000 below the single-family median. That gap is not unusual for Los Gatos, but the condominium segment's complete absence of over-ask closings contrasts with single-family homes, where 13 of 28 transactions with list prices cleared the ask.

Single-family price per square foot spans a remarkable range within the segment itself. 16359 Shady View Lane produced the month's highest single-family price per square foot at $2,179—a 1,285-square-foot, 3-bed home on 8,901 square feet of lot that closed at $2,800,000 with no list price on record. That figure is more than five times the $388 per square foot recorded at 22427 Old Logging Road, where 3,611 square feet on a 7.6-acre rural parcel closed at $1,400,000. The divergence illustrates that location and lot context do more work than bedroom count or finished square footage in this market.

By price band

The $1M–$1.5M band's median price per square foot of $419—three sales, ranging from 22427 Old Logging Road to 16420 Soda Springs Road—reflects the hillside and rural character of what reached that band this month. Those properties carry substantial acreage but lower per-foot valuations than in-town lots. The $2M–$3M band, with 11 closings and a median of $1,330 per square foot, is the month's clearest concentration of activity. The $3M–$5M band (eight closings, median $3,656,500, $1,366 per square foot) ran at a slightly higher per-foot figure than the band below it—driven by the cluster of compact, high-value in-town homes. The sole closing above $5M, 5770 Harwood Place, recorded $733 per square foot: the estate premium in reverse, where land and scale are the story and per-foot comparisons lose their footing.

Across the period

The three-month trend is limited to three data points, so directional conclusions should be held lightly. Transaction volume has grown month over month—16, then 27, then 34—suggesting the post-summer return to market activity that Los Gatos typically sees in September. The median price dipped sharply in August to $2,000,000 before recovering to $2,165,000 in September; median price per square foot followed the same path, falling from $1,127 in July to $868 in August and returning to $1,095 in September. August's lower figures likely reflect a mix shift toward hillside and lower-band properties rather than a broad price movement across the market. September's median sits 12 percent below the year-ago September median of $2,465,000 and 13 percent below July's $2,700,000—though the July figure rests on only 16 closings, a sample thin enough to be sensitive to a handful of high-dollar transactions.

What it means

For sellers: September's 14 over-ask closings among 27 transactions with list prices on record—a 51.9 percent rate—indicate that correctly priced in-town single-family homes continued to close above their ask. The spread between the month's largest premium (22.9 percent over ask at 202 Granada Way) and its largest discount (12.2 percent below ask at 16420 Soda Springs Road) is wide. Hillside and rural properties with substantial acreage closed at or below ask in the majority of cases; in-town properties on smaller lots more often closed above. The active inventory of 182 homes with a median active list price of $1,762,500 gives buyers a meaningful selection to compare against.

For buyers: With 182 active listings and 23 pending at month's end, the ratio of active to pending suggests that a significant portion of listed inventory is not moving quickly—though without days-on-market data for any of the 34 September closings, the pace at which individual homes moved from list to contract cannot be established from the closing record. The $2M–$3M band absorbed 11 closings and carries the heaviest transaction density; buyers in that range encountered the most closings concentrated in a single band. The condominium segment, with four closings and no over-ask results, shows a different pattern from single-family homes.

For owners not transacting: The overall median of $2,165,000 is 12.1 percent below the year-ago figure of $2,465,000 and the median price per square foot dropped from $1,232 to $1,095 year over year. Those movements are real but are influenced by the mix of properties that happened to close in each period, not necessarily by uniform price changes across property types. The single-family segment median of $2,475,000 across 28 closings offers a more stable reference for the majority of Los Gatos homeowners than the whole-market figure.

Tim McMullen · CA DRE #02016832
[email protected] · (415) 691-9272